Refco Unit Seeks To Lift Stay To Dismiss Civil Suit

Law360 (May 10, 2007, 12:00 AM EDT) -- A unit of bankrupt financial services company Refco Inc. has asked the court overseeing Refco’s bankruptcy to lift an automatic stay so the company can attempt to dismiss a pending civil case.

In a motion filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York, Refco Commodity Management Inc. asked the court to lift the stay, which might be the only thing stopping a district court from dismissing pending civil litigation against RCMI over the management of investment funds.